change max_value in sequence

Hi.

I have a table with a serial field defined with an older version of
postgresql (ver. 7). Back then max_value was 2147483647:

select max_value from my_bid_seq ;
max_value
------------
2147483647

How can I increase it? By updating the max_value-field? This is an
older thread and may have changed:
http://archives.postgresql.org/pgsql-admin/2002-12/msg00033.php

I'm running postgresql 8.3.1.

--
regards
Claus

When lenity and cruelty play for a kingdom,
the gentler gamester is the soonest winner.

Shakespeare